The Penalties Relating to Offshore Matters and Offshore Transfers (Additional Information) Regulations 2017 (S.I. 2017/345) were made on 9 March 2017 and that stipulate the additional information that is required to be furnished when requesting for a reduction of penalties for tax inaccuracies or failures involving offshore matters or offshore transfers.

The Regulations will come into force on 1 April 2017.